Compound Price
What is Compound
Compound (COMP) is the token powering the eponymous Compound protocol. The protocol is a decentralized finance (DeFi) project that allows its users to deposit their crypto and earn interest — or borrow the tokens others have invested.
Compound value is directly connected to the protocol. New tokens are distributed among users of the network, one half for investors, the other for borrowers. It is used as a governance token within the protocol. And, of course, it also can be bought and sold like any other cryptocurrency.
What influences COMP price
Like other DeFi governance tokens, Compound worth depends on both the success of this particular protocol and the wider adoption of crypto.
Compound is competing with similar DeFi protocols. On the other hand, the DeFi field is still in its early stages, so there is plenty of room for different projects. The price of Compound may increase as DeFi projects become more popular and widespread — even if it means increased competition.
Finally, COMP price also reflects the larger movements in the crypto market.
How to read this price chart
When first opened, this Compound price tracker shows the live Compound price over the last 24 hours. Click on the “Day” menu to access Compound price history or zoom in on the last hour. For more details, click anywhere on the chart; you'll see the exact COMP price at that specific point.
In addition to the COMP price in USD, this tool supports 90+ local currencies, from AED all the way to ZAR.
And here's the best part. This tool is part of Paybis, a safe and reliable online crypto exchange. If the current Compound price looks like a great deal, hit the “Buy” button to get it!
What can you do with COMP
One popular reason to buy COMP is to HODL, which is crypto slang for keeping it, expecting the Compound price to increase in the future. In essence, this works as an investment in the Compound project itself.
It can also be staked, that is, invested to earn passive income. This can be a way to increase the value of your investment while HODLing it.
Compound price today
As we explained, Compound price today depends on numerous factors, including the general mood in the crypto market, overall performance of DeFi projects and, finally, the Compound project itself. We encourage you to do your own research, as this clearly is an exciting and promising field.
And, if your research suggests that Compound price now is lower than it'll be in the future, click the “Buy” button to get your crypto with Paybis!
